Magnesium Oxide Market by Application and Geography - Forecast and Analysis 2022-2026
- Published: Sep 2022
- Pages: 147
- SKU: IRTNTR40256
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The magnesium oxide market share is expected to increase by USD 1.18 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.22%.
The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (refractories, construction, agriculture, chemical, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
The magnesium oxide (MgO) market report also offers information on several market vendors, including Air Water Inc., Dr. Paul Lohmann GmbH & Co. KGaA, GRECIAN MAGNESITE SA, Hartley Haicheng Magnesite Co. Ltd, HOLY MAGNESIUM INDUSTRY DASHIQIAO CO. LTD, Imerys S.A., Industrias Penoles SAB de CV, ICL Group Ltd, Konoshima Chemical Co. Ltd., Lehmann and Voss and Co. KG, Liaoning Jinding Magnesite Group, Magnesitas Navarras SA, Martin Marietta Materials Inc., Nedmag BV, Noah Chemicals INC., Premier Magnesia LLC, Rauschert GmbH, RHI Magnesita GmbH, and Baymag Inc among others.
What will the Magnesium Oxide Market Size be During the Forecast Period?
Get the Magnesium Oxide Market Size Forecast by Downloading the Report Sample
Parent Market Analysis
Technavio categorizes the global magnesium oxide (MgO) market as a part of the global speciality chemicals market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the magnesium oxide (MgO) market during the forecast period.
Magnesium Oxide Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increasing steel production is notably driving the magnesium oxide market growth, although factors such as surging prices of magnesium oxide owing to magnesia plant shutdowns in china may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Magnesium Oxide Market Driver
- The increasing steel production is one of the key drivers fueling the magnesium oxide market growth.
- The increase in global steel production has increased global consumption of refractory grade magnesium oxide, known as dead-burned magnesia, which serves as both protective and replaceable linings for equipment used to handle molten steel.
- Owing to the increased steel production in the first eight months of 2018, global consumption of dead-burned and fused magnesia increased by 7% as compared to the same period in 2017. Therefore, the rising production of steel is expected to drive the demand for magnesium oxide during the forecast period.
Key Magnesium Oxide Market Trend
- Consolidation of China's magnesia industry is one of the key magnesium oxide (MgO) market trends propelling the market growth.
- As a result of the rising environmental concerns, the magnesia market in China experienced restrictions on mining and prohibition on the use of explosives, specifically in the provinces of Liaoning and Haicheng. Consequently, the prices of magnesia surged in 2018. To keep the market growing, the Government of China has planned to reduce the number of companies producing magnesia and related products.
- The consolidation plan for companies mining and producing magnesia in Haicheng province has made progress. Moreover, the consolidation of companies is expected to address several issues, such as high raw material prices, limited availability of magnesite outside China, reduced competition on refractory producers, global supply-demand imbalance, and environmental concerns. With the expected consolidations, the market for magnesium oxide is expected to grow during the forecast period.
Key Magnesium Oxide Market Challenge
- Surging prices of magnesium oxide owing to magnesia plant shutdowns in China is one of the factors limiting the magnesium oxide (MgO) market growth.
- China has dominated the magnesium oxide (MgO) market for decades. At the beginning of 2017, it accounted for 65%-75% of global magnesia production capacity and accounted for more than 50% of the global production of magnesium oxide. However, in 2017 and 2018, the regulations imposed by the government of China, while addressing environmental concerns, have led to the shutdown of several magnesia plants in the country. This resulted in the surging of the prices for all types of magnesia, including magnesium oxide.
- With the increasing prices of magnesium oxide, the end-user industries are expected to shift to substitute products, which will significantly hamper the growth of the market during the forecast period.
This magnesium oxide market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Magnesium Oxide Market Value Chain Analysis
Our In-house experts produce extensive information on the value chain and parent market of the magnesium oxide (MgO) market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
Which are the Key Regions for Magnesium Oxide Market?
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84% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for magnesium oxide market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
In 2019, the magnesium oxide market in APAC held the largest revenue share of the global magnesium oxide market. It is likely to expand at the highest CAGR during the forecast period. China, India, North Korea, and Australia are the key leading countries in the regional market owing to the presence of vast reserves of magnesium oxides. In 2017, This will facilitate the magnesium oxide market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What is the Fastest-Growing Application Segment in the Magnesium Oxide Market?
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The magnesium oxide market share growth in the refractories segment will be significant during the forecast period. Refractories are ceramic materials that are designed according to the requirements of modern manufacturing technologies. These materials can withstand very high temperatures and therefore are better heat-resistant materials than metals. Owing to their property of maintaining physical and chemical stability at high temperatures, these materials are used to manufacture the inside lining of the furnaces that are used in many industrial processes. Such factors will boost segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the magnesium oxide (MgO) market size and actionable market insights on the post-COVID-19 impact on each segment.
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Magnesium Oxide Market Scope |
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|
Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.22% |
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Market growth 2022-2026 |
$1.18 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
3.7 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 84% |
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Key countries |
US, China, Japan, South Korea, Germany, and Italy |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Air Water Inc., Dr. Paul Lohmann GmbH & Co. KGaA, GRECIAN MAGNESITE SA, Hartley Haicheng Magnesite Co. Ltd, HOLY MAGNESIUM INDUSTRY DASHIQIAO CO. LTD, Imerys S.A., Industrias Penoles SAB de CV, ICL Group Ltd, Konoshima Chemical Co. Ltd., Lehmann and Voss and Co. KG, Liaoning Jinding Magnesite Group, Magnesitas Navarras SA, Martin Marietta Materials Inc., Nedmag BV, Noah Chemicals INC., Premier Magnesia LLC, Rauschert GmbH, RHI Magnesita GmbH, and Baymag Inc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Magnesium Oxide Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive magnesium oxide market growth during the next five years
- Precise estimation of the magnesium oxide market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the magnesium oxide industry across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive analysis of factors that will challenge the growth of magnesium oxide (MgO) market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Refractories - Market size and forecast 2021-2026
- Exhibit 28: Chart on Refractories - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Refractories - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Refractories - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Refractories - Year-over-year growth 2021-2026 (%)
- 5.4 Construction - Market size and forecast 2021-2026
- Exhibit 32: Chart on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Construction - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Construction - Year-over-year growth 2021-2026 (%)
- 5.5 Agriculture - Market size and forecast 2021-2026
- Exhibit 36: Chart on Agriculture - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Agriculture - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Agriculture - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Agriculture - Year-over-year growth 2021-2026 (%)
- 5.6 Chemical - Market size and forecast 2021-2026
- Exhibit 40: Chart on Chemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Chemical - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Chemical - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Chemical - Year-over-year growth 2021-2026 (%)
- 5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 North America - Market size and forecast 2021-2026
- Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 70: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.10 South Korea - Market size and forecast 2021-2026
- Exhibit 82: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
- 7.11 US - Market size and forecast 2021-2026
- Exhibit 86: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.12 Germany - Market size and forecast 2021-2026
- Exhibit 90: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.13 Italy - Market size and forecast 2021-2026
- Exhibit 94: Chart on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 95: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 96: Chart on Italy - Year-over-year growth 2021-2026 (%)
- Exhibit 97: Data Table on Italy - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 98: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 99: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 101: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 102: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 103: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 104: Matrix on vendor position and classification
- 10.3 Baymag Inc
- Exhibit 105: Baymag Inc - Overview
- Exhibit 106: Baymag Inc - Product / Service
- Exhibit 107: Baymag Inc - Key offerings
- 10.4 GRECIAN MAGNESITE SA
- Exhibit 108: GRECIAN MAGNESITE SA - Overview
- Exhibit 109: GRECIAN MAGNESITE SA - Product / Service
- Exhibit 110: GRECIAN MAGNESITE SA - Key offerings
- 10.5 Imerys S.A.
- Exhibit 111: Imerys S.A. - Overview
- Exhibit 112: Imerys S.A. - Business segments
- Exhibit 113: Imerys S.A. - Key offerings
- Exhibit 114: Imerys S.A. - Segment focus
- 10.6 Industrias Penoles SAB de CV
- Exhibit 115: Industrias Penoles SAB de CV - Overview
- Exhibit 116: Industrias Penoles SAB de CV - Business segments
- Exhibit 117: Industrias Penoles SAB de CV - Key offerings
- Exhibit 118: Industrias Penoles SAB de CV - Segment focus
- 10.7 ICL Group Ltd
- Exhibit 119: ICL Group Ltd - Overview
- Exhibit 120: ICL Group Ltd - Business segments
- Exhibit 121: ICL Group Ltd - Key offerings
- Exhibit 122: ICL Group Ltd - Segment focus
- 10.8 Magnesitas Navarras SA
- Exhibit 123: Magnesitas Navarras SA - Overview
- Exhibit 124: Magnesitas Navarras SA - Product / Service
- Exhibit 125: Magnesitas Navarras SA - Key offerings
- 10.9 Martin Marietta Materials Inc.
- Exhibit 126: Martin Marietta Materials Inc. - Overview
- Exhibit 127: Martin Marietta Materials Inc. - Business segments
- Exhibit 128: Martin Marietta Materials Inc. - Key offerings
- Exhibit 129: Martin Marietta Materials Inc. - Segment focus
- 10.10 Nedmag BV
- Exhibit 130: Nedmag BV - Overview
- Exhibit 131: Nedmag BV - Product / Service
- Exhibit 132: Nedmag BV - Key offerings
- 10.11 Rauschert GmbH
- Exhibit 133: Rauschert GmbH - Overview
- Exhibit 134: Rauschert GmbH - Product / Service
- Exhibit 135: Rauschert GmbH - Key offerings
- 10.12 RHI Magnesita GmbH
- Exhibit 136: RHI Magnesita GmbH - Overview
- Exhibit 137: RHI Magnesita GmbH - Business segments
- Exhibit 138: RHI Magnesita GmbH - Key news
- Exhibit 139: RHI Magnesita GmbH - Key offerings
- Exhibit 140: RHI Magnesita GmbH - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 141: Inclusions checklist
- Exhibit 142: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 143: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 144: Research methodology
- Exhibit 145: Validation techniques employed for market sizing
- Exhibit 146: Information sources
- 11.5 List of abbreviations
- Exhibit 147: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- China
- Japan
- South Korea
- Germany
- Italy
- Increasing steel production
- Consolidation of China magnesia industry
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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